Monday, 9 November 2015

[omg..omg...1mdb is not najib's baby anymore!]...1MDB Has Now Become The Rakyat's Baby

[omg..omg...!]...1MDB Has Now Become The Rakyat's Baby

I received this from somewhere.  My few comments in blue.

The problem with the PM is he is also the part time Finance Minister (not full time). He does not understand that the MOF is the key portfolio of the whole administration.  Or he has other ideas and therefore he has to be the MOF.

Maybe he wants to be MOF because he can award contracts to people who approach him.   In his famous "26b - 9b = 15b" speech he did say that everywhere he went "people want contracts".   In the case of the KLIA2 the original figure was RM2b and in the end it became RM4b. 

Just before the Budget speech, the PM cum FM went travelling all over the world.  Obviously other people prepared the Budget speech for him. He came back from overseas and just read the Budget speech in Parliament without understanding what he was reading. 

He doesnt understand the consequences of the policy speech which he just read. For example now that the economy is facing problems he has increased the minimum wages to RM1000 - an increase after just 24 months of first imposing the minimum wages. This has resulted in retrenchment as employers cannot afford to pay high minimum wages. This has also affected new investments. 

The Prime Minister feels that the economic crisis will simply go away if he repeats enough number of times that the economy is not in crisis.  In the meantime the PM, his Ministers and MBs are flying around in private jets. The rakyat is surely watching.

Najib said 'Cash is King' so as the party president he is paying monthly allowances to  office holders at the Bahagian level ie Deputies, Youth heads, Wanita and Puteri heads to continue to support him.   Others have openly acknowledged receiving up to RM1 million in cash from Najib.  Another fellow has not denied that he received RM2 million from Najib.

Najib had more than RM2.6 billion in his personal accounts but lately he maybe facing some problems "accessing" those funds. Our neighbour to the south did say that they have frozen certain bank accounts which may have something to do with this. 

The PM has set aside RM1.6 Billion in the Budget for "special projects" under the PM's Department. 

In the case of UBER the SPAD Chairman is against UBER because he is out of date and he does not know that new technology has changed the way the world does business. Unless we keep up with new technology we will be left behind. This is the problem employing retired Cabinet Ministers. They should spend time with their grandchildren or do gardening or we face people like the MARA Chairman (Annuar Musa) or PUNB Chairman (Ali Rustam) who are both red shirt leaders.

When 1MDB borrowed RM42 billion the exchange rate was RM3.3 to 1USD. Now it is more than RM4.30 and that debt has increased to over RM50 Billion. 

Arul Kanda answers that 1MDB belongs to the rakyat.  Of course 1MDB belongs to the rakyat. But it also means thatthis huge RM50 Billion debt belongs to the rakyat. What Arul Kanda really means is that  the rakyat now have to pay this debt. It has become the rakyat's responsibility. 

But when 1MDB borrowed RM42 Billion they did not even consult the Cabinet, let alone the rakyat.  Najib never consulted the Cabinet when he formed 1MDB. Neither did he consult the rakyat before incorporating 1MDB.  The rakyat would not have agreed for Najib to be the Advisor because he does not know much about business. The same applies for the first Executive Director of 1MDB.

Now when 1MDB is facing collapse he has asked the Cabinet to defend 1MDB and the rakyat must ultimatelypay for 1MDB's debt.

Najib even refuses to disclose Arul Kanda's salary to the rakyat. The rakyat have a right to know because 1MDB's RM50 billion debt belongs to the rakyat. 

The old saying comes to mind, 'You can fool some people all the time, you can fool all the people some of the time but you cannot fool all the people all the time'.

Just tell the rakyat where the money has gone to? And what has happened to Husni Hanadzlah the brave spokesman for 1MDB? These were the brave spokesmen who have all gone silent.

Instead Najib and Arul keep sounding quite nonsensical and not giving any real answers. 

When the Governor of Bank Negara asked 1MDB to bring back the money because 1MDB had misled Bank Negara (ie the reason given  by 1MDB to BNM to take the money out was false) it made 1MDB panic because there is NO MORE money to bring back.  

Fortunately for 1MDB the AG who thinks he is an expert on banking laws ruled that 1MDB has not committed any offence. Thus the AG saved 1MDB from BNM's further actions.  The AG seems to have sufficient banking knowledge perhaps to even take over the governorship from Zeti but Wahid Omar, Awang Adek and Idris Jala also want to be governor. (All three being cronies of the "king-screw-up" who has screwed up the economy).

The PM announced that there should not be a media war on 1MDB and that after investigations if wrong doing is found those who are responsible will be charged. 

This is becoming an interesting point because so far the government has not allowed the investigations to be completed. 

The former AG was unceremoniously asked to vacate his office.  Some investigators investigating 1MDB were arrested, only to be released by the Court. MACC officers were transferred out and then transferred back. Very senior Police officers were replaced or transferred out.  PAC members were promoted such that they had to relinquish their posts in the PAC. The PAC hearing  was postponed.    The SOSMA has been used to lock up people who filed Police reports against this case.

Anyway the PAC, Task Force, BNM and MACC must eventually present the findings of all their investigations to the AG to initiate any prosecution.   However since the new AG has declared in a public statement that 1MDB has not committed any offence the rakyat wonders what is the purpose of any more investigations by the PAC, Task Force, BNM or the MACC ?  It could just be a waste of time and public funds.

The long and the short of it is that the rakyat will never know when the investigations will be completed.

While the PM said there should not be a media war over 1MDB, Arul Kanda has been appearing continuously on Astro, Bernama TV and TV1 and giving his monologue of events.  He keeps saying everything is ok. Lately Arul has been saved by the Speaker of the Parliament from debating with Tony Pua.  As we are aware, not too long ago, the Speaker of the Parliament  decided not to resign from his position after his toilet was renovated.  (The nature of his functions needed a much higher capacity toilet.)

Arul Kanda was supposed to appear at the PAC before this but the MOF did not serve the notice on him. He and the former CEO did not appear before the PAC. Now he sounds more confident with the new Chairman of the PAC. 

The new Chairman of the PAC behaves like he just came out of the jungle in Pahang and never read a newspaper. He says Jho Low will not be called to the PAC as he is not directly involved in 1MDB.

On the RM2.6 billion donation the PM found the "donor" and asked the investigators to go and interview him. The Arab has said that he could account for USD100 million only but USD700 million is too much for him and he said even Obama cannot get that kind of money.   Meaning who is Najib compared to Obama? 

My comments : I have no other comments.

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